Investopedia Leaving Grand Central Area for New Digs Near Bryant Park
By Liam La Guerre April 10, 2017 11:25 am
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Financial news and information website Investopedia has signed a 15,931-square-foot lease at 114 West 41st Street for its headquarters, Commercial Observer has learned.
The company will take the entire prebuilt eighth floor of the 22-story office building between Broadway and Avenue of the Americas, which is owned by Blackstone Group affiliate Equity Office.
Founded in 1999, Investopedia is a brand of media company IAC. It will relocate from its current offices at 110 East 42nd Street between Park and Lexington Avenues in the third quarter of the year, according to information provided to CO by the landlord.
“Investopedia has experienced incredible growth over the last two years and we were reaching capacity in our current office,” David Siegel, chief executive officer of Investopedia, said in a statement. “We needed a new space that would not only accommodate us in the short-term, but enable us to continue our rapid expansion while offering a collaborative workplace environment.”
Investopedia’s’ new digs feature an open layout, 12 and a half foot-high ceilings, polished concrete floors, exposed brick, open pantry and fridge for a keg. The asking rent in the deal was in the mid-$70s per square foot, a source told CO. Steven Rotter and Daniel Santagata of JLL, who represented Investopedia in the transaction, did not respond to a request for comment via a spokesman.
“We are pleased to welcome Investopedia, which was drawn to 114 West 41st Street for its contemporary environment in an ideal location near Midtown’s best retail, restaurants and outdoor spaces,” Equity Office’s Scott Silverstein, who represented the landlord in-house with colleague Zachary Freeman, said in prepared remarks.
Newmark Grubb Knight Frank’s Erik Harris, Scott Klau, Ben Shapiro and Zach Weil also worked on the deal for the landlord. The brokers did not return a request for comment via a spokesman.
